Anchored by a stake in TikTok parent ByteDance, the multi-asset CV reportedly drew backing from Abu Dhabi's Lunate, among others.
The CV would reportedly acquire ByteDance and Ant Group stakes at roughly a 30% discount to their combined $1.5 billion NAV.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The transaction will reportedly value the India-based D2C lifestyle brand at up to $521 million, more than 3x its last reported mark.
The Series H round will combine primary and secondary capital, giving the fintech a post-money valuation of $4.5 billion.
The oversubscribed vehicle rolled over a portfolio of investments made between 2015 and 2021.
The pre-IPO funding round, which included a mix of primary and secondary capital, reportedly valued the dairy producer at $1.1 billion.
The reported stake divestment by General Atlantic marks a ~15% uplift over the TikTok parent's valuation in a November share auction.
The oversubscribed vehicle received additional participation from CSSC Insurance, Wuxi Venture Capital, Boyuan Capital, and Huikai Investment.
The Chinese technology giant is reportedly expected to have a valuation of at least $350 billion.
